This paper provides novel evidence on the effects of employee stock ownership (ESO), a prominent example of shared capitalism. In so doing, we take advantage of our access to new panel data on Japanese ESO plans for a highly representative sample of publicly-traded firms in Japan (covering more...

This study looks into a theoretical model exploring the effects of ownership shares and directors’ proportions as majority shareholders on earnings management. Furthermore, the primary objective of this research is to investigate the moderating role of board meeting frequency between ownership...